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City of Lino Lakes, Minnesota <br />Management Report, Page 39 <br />ENTERPRISE (UTILITY FUND) <br />The fmancial statements for the Enterprise Fund are presented in Statements 12 through 14 of <br />the 1988 Annual Financial Report. Condensed comparative statements of income and expense for <br />the years 1988 and 1987 for each of the combined funds are shown in the following schedules. <br />For The Year Ended December 31, <br />1988 1987 <br />Amount Percent Amount Percent <br />Operating Income: <br />Water billings $43,708 34.13% $21,492 27.43% <br />Sewer billings 69,873 54.55% 49,942 63.74% <br />Other 14,498 11.32% 6,916 8.83% <br />Total operating income 128,079 100.00% 78,350 100.00% <br />Operating Expenses: <br />Personal services 34,966 27.30% 29,577 <br />MWCC 36,025 28.13% 33,709 <br />Repairs and maintenance 17,135 13.38% 7,237 <br />Depreciation 813 0.63% 1,082 <br />Other 13,063 10.20% 23,233 <br />Total Operating expenses 102,002 79.64% 94,838 <br />Income (loss) From Operations 26,077 20.36% (16,488) <br />Other Income /(Expenses): <br />MWCC maintenance agreement 7,319 10,072 <br />Net Income/(loss) $33,396 ($6,416) <br />37.75% <br />43.02% <br />9.24% <br />1.38% <br />29.65% <br />121.04% <br />(21.04)% <br />The operating results of the Water and Sewer Utility Fund increased by approximately $40,000 <br />from 1987. The City reviewed water and sewer rates and increased rates effective July 1, 1988 <br />and January 1, 1989. <br />The MWCC bills the City annually on an estimated basis. These billings are adjusted at a later <br />date and the City is billed the additional amount or given a refund. The MWCC billings for <br />calendar years 1979 through 1989 have been as follows: <br />